5. Microcredit- How It Works
A small amount of money is
loaned to a person in poverty
who wants to start or grow a
business, but doesn’t have any
money to do so.
6. Microcredit- How It Works
The person uses the
money to purchase
something to help their
business, like a sewing
machine to make clothes
7. Microcredit- How It Works
The person can then
sell a product, and
because she is making
money, she can afford
to do things such as
feed and clothe her
family and send her
kids to school
8. Microcredit- How It Works
The person will pay
back the loan, and then
that money can go to
other people in poverty
to help them start a
business too! Money
that is contributed to
microloans are
donations that keep on
giving!
12. Warke, Ethopia
Warke built up her money and now
has many cows and is able to send
her son to college. Warke is changing
her son’s life so that he and his
family may not live in poverty
So lets say I am really good at making clothes, but I don’t have the money to buy a sewing machine. What a microloan does is give me that money to buy a sewing machine, so I can sell clothes and make money. I can use some of that money to make more clothes, and the rest of it can go to feeding my family, and making sure they go to school. In most of the world, school isn’t free, so a lot of kids aren't lucky enough to go to school. Microloans can make it so future generations may not live in poverty.
There is an average of 96% repayment of the microloans that WPF funds around the world, meaning that of every $1 loaned out, 97 cents is paid back along with some interest so the $ go around and around helping more and more people over time as the $ grows.
(WPF does not lend the money out ourselves, we find reputable microfinance organizations with proven track records who care about the people that they are helping and whose main goal is to alleviate poverty. Then we do monitoring and evaluation to make sure that they are good to the people that they are serving and using the money for what they are supposed to.)
We give microloans all over the world! Can anyone name some of these places?
-United States, India, Indonesia, Thailand.
The countries in orange and green places are countries where we are funding microcredit
Here are some of the stories of people from around the world:
Whole Foods Market sources coffee in Ethiopia through Allegro Coffee Company
Whole Foods Market sources cashews in Kerala, India
Whole Foods Market sources coffee in the Lake Atitlan area of Guatemala through Allegro Coffee Company
Whole Foods Market sources coffee in East Timor through Allegro Coffee Company
3.8 BILLION people live on less than $2 day. Microloans are making it possible for families to have food,, shelter, education, and are making sure that young people just like you have a better life.
Many young people just like you are doing awesome things to help other people all around the world!
Many schools have done an ornament project around the holiday season and sell the ornaments at their local Whole Foods Market or at their school. All of the money raised from the ornaments goes to Whole Planet Foundation to help people lift themselves out of poverty.
(WFM covers the operating costs of Whole Planet Foundation so 100% of donations actually go to helping people living in poverty.)
Would you all like to help?! Let’s make some change!